Up to $25,000 is available to help businesses and industries develop throughout the Northern Territory with local initiatives and grants.
The Regional Economic Development Fund (REDF) supports the development of business and industry capability in all regions of the Northern Territory. It stimulates and supports regional economic development through local initiatives.
All Regional Economic Development Fund (REDF) grants require approval by the Minister for Economic Development and Major Projects/Chief Minister.
Grants of up to $25,000 are available. Initiatives will not be totally funded; 50% must come from the applicant or the funding partners.
To apply, you must be either:
- an incorporated body and/or legal entity, or a local partnership between private organisations
- a not-for-profit community organisation/group or local government based in the Northern Territory.
- an individual or individual business, if they demonstrate significant economic development benefit to the region.
Applications from individuals and individual businesses can be accepted if they show significant economic development benefits to the region.
The Regional Economic Development Fund (REDF) grants are provided for a broad range of initiatives from all industry sectors in all regions outside the Darwin area. The following criteria apply:
- preference is given to applications with a significant financial or in-kind contribution from the proponents and sources such as the Australian Government or private or philanthropic organisations
- Regional Economic Development Fund (REDF) grants are a one-off payment and are not recurrent
- applicants will be required to provide the Department of the Chief Minister with information on the outcomes of the funded project.
Eligible projects could include but are not limited to:
- Feasibility studies, detailed project plans or design works.
- One-off capital or minor new works projects.
- Capability and capacity-building and governance programs.
- Remote infrastructure planning.
- Development of remote, rural and urban higher education pathways.
- Projects that support whole-of-traditional-estate forward planning.
- Research and development of micro-industries.
- Innovative remote industry support structures.
Funding is only available for clearly identified economic development initiatives that can be completed and acquitted within a specific timeframe and have a social return, including employment.
With a limited pool of funding, there is no guarantee that an application will be successful. The amount offered to successful applicants may be less than the amount requested.
Application for the Regional Economic Development Fund (REDF) is on an ongoing basis.